ONEOK, Inc. (NYSE:OKE) Stock Holdings Lifted by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 7.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 446,125 shares of the utilities provider’s stock after buying an additional 31,249 shares during the period. Victory Capital Management Inc.’s holdings in ONEOK were worth $31,327,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Regal Investment Advisors LLC boosted its stake in ONEOK by 3.6% in the third quarter. Regal Investment Advisors LLC now owns 4,631 shares of the utilities provider’s stock valued at $294,000 after acquiring an additional 159 shares during the period. Hoxton Planning & Management LLC grew its stake in ONEOK by 5.0% during the 3rd quarter. Hoxton Planning & Management LLC now owns 3,594 shares of the utilities provider’s stock worth $228,000 after buying an additional 170 shares during the last quarter. Monarch Capital Management Inc. increased its position in ONEOK by 1.2% in the fourth quarter. Monarch Capital Management Inc. now owns 15,573 shares of the utilities provider’s stock worth $1,094,000 after buying an additional 183 shares during the period. Arlington Trust Co LLC lifted its stake in ONEOK by 27.9% in the fourth quarter. Arlington Trust Co LLC now owns 838 shares of the utilities provider’s stock valued at $59,000 after buying an additional 183 shares during the last quarter. Finally, Wealthfront Advisers LLC boosted its holdings in shares of ONEOK by 0.3% during the third quarter. Wealthfront Advisers LLC now owns 70,574 shares of the utilities provider’s stock valued at $4,477,000 after acquiring an additional 190 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

OKE has been the subject of a number of recent analyst reports. Citigroup increased their price objective on ONEOK from $73.00 to $83.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Mizuho boosted their price objective on ONEOK from $75.00 to $81.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 20th. Stifel Nicolaus raised their target price on ONEOK from $81.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. StockNews.com upgraded shares of ONEOK from a “sell” rating to a “hold” rating in a research report on Wednesday, March 6th. Finally, Wells Fargo & Company raised their price objective on shares of ONEOK from $81.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $83.58.

Insider Activity at ONEOK

In related news, Director Wayne Thomas Smith acquired 2,700 shares of the company’s stock in a transaction on Friday, March 1st. The shares were purchased at an average price of $75.25 per share, for a total transaction of $203,175.00. Following the purchase, the director now owns 2,700 shares in the company, valued at $203,175. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by insiders.

ONEOK Trading Up 0.4 %

ONEOK stock opened at $78.36 on Wednesday. The company has a 50 day moving average price of $78.52 and a 200 day moving average price of $72.18. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.48 and a current ratio of 0.70. ONEOK, Inc. has a 52 week low of $55.91 and a 52 week high of $81.81. The firm has a market capitalization of $45.73 billion, a price-to-earnings ratio of 18.22, a P/E/G ratio of 4.13 and a beta of 1.64.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.03. The business had revenue of $4.78 billion for the quarter, compared to the consensus estimate of $5.84 billion. ONEOK had a return on equity of 15.94% and a net margin of 12.54%. During the same quarter in the previous year, the company posted $2.34 earnings per share. Research analysts forecast that ONEOK, Inc. will post 4.95 EPS for the current year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 5.05%. The ex-dividend date is Tuesday, April 30th. ONEOK’s dividend payout ratio is currently 92.09%.

ONEOK announced that its Board of Directors has initiated a stock buyback program on Wednesday, January 17th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the utilities provider to purchase up to 4.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

ONEOK Company Profile

ONEOK, Inc engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through four segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude.